| Thu 12 Jul 2007, 11:30 | | DDT - Dimension Data Holdings plc - Sale Of 60% In |
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DDT
DIDDT
DDT - Dimension Data Holdings plc - Sale Of 60% Interest In Britehouse
Dimension Data Holdings plc
Incorporated in Great Britain under the Companies Act 1985
Registration Number: 3704278
Share Code: DDT
Issuer code: DIDDT
ISIN number: GB0008435405
("the Company")
SALE OF 60% INTEREST IN BRITEHOUSE
move further opens gateway to African expansion
In a move to grow its business on the African continent in the public and
private sectors, Dimension Data plc today announced it has been granted
Competition Commission approval to sell a stake in its Britehouse Group
(Britehouse) to a BEE and investment company consortium.
The consortium comprises Convergence Partners Investments (Pty) Ltd, Safika
Holdings (Pty) Ltd, and VenFin Limited.
In October last year, Dimension Data in South Africa announced it had
consolidated its Microsoft Applications, SAP Application Development
Practices and Paracon Holdings Ltd investment into a new entity, the
Britehouse Group, and intended to sell a 30% stake in that business to
Convergence Partners and Safika. VenFin was subsequently included as a
financier in the transaction, bringing the total purchase stake by the
consortium to 60%.
The remaining 40% shareholding of Britehouse will be retained by Dimension
Data Holdings plc.
The shareholder base provides a strong foundation for the future growth of
the business as it covers technology, BEE empowerment and financial support.
The consolidated gross assets of 3fifteen and Pebbletree as at 31 March 2007
was R38,5-million and Britehouse`s share of the reported gross assets of
Paracon at 31 March 2007 was R76,04-million.
Scott Gibson, CEO of Britehouse, explains: "Britehouse owns controlling
interests in 3fifteen (Pty) Ltd, Pebbletree Consulting (Pty) Ltd, and 28% in
JSE-listed Paracon Holdings Limited. The ownership of the three companies
under one entity, supported by our Black Empowerment partners, makes
operational and financial sense and establishes a sound platform for our
future performance."
3fifteen is a Microsoft Gold Partner and provides specialist Microsoft
services including consulting, software application development and
deployment. Pebbletree is a SAP Africa Service Partner providing strategic
business consulting services in respect of SAP software and value-adding,
complementary mobile, front-end and outsourced solutions. Paracon Holdings
is an empowered JSE listed ICT resourcing and solutions Company.
"Britehouse has significant project delivery capability and resource
expertise to compete with other application consulting organisations.
Together with our Black Empowerment partners, we want to harness the
successes each company has achieved in the past and leverage their
collective intellectual capital in the future to become leaders in the
Microsoft, SAP and application outsource arenas in the public and private
sectors in SA and the African continent," says Gibson who points out that
the Britehouse offerings fit well with Dimension Data`s ICT infrastructure
expertise.
Moss Ngoasheng, Executive Chairman of Safika Holdings, says: "The Britehouse
investment was attractive to us on two fronts: firstly, it serves to further
strengthen our relationship with Dimension Data, and secondly, it has
synergistic value with Safika`s other ICT investments which we can leverage
off to further enhance Britehouse`s value proposition."
VenFin`s Investment Executive, Peter Liddiard adds: "As an investor in
Dimension Data plc, we have long been aware of and followed the underlying
constituents of Britehouse and believe its offerings are in an important and
growing sector of the IT market.
In addition, strategic corporate activity could further bolster the
Britehouse offerings."
Gibson will continue as CEO of Britehouse and is also a Board member.
Other Board members include Nchaupe Khaole of Safika Holdings; Peter
Liddiard of VenFin; Andile Ngcaba, Chairman, Convergence Partners; Jeremy
Ord, Executive Chairman of Dimension Data Holdings plc; and Jason Goodall, a
Dimension Data Africa and Middle East (Pty) Ltd Director.
12 July 2007
For further information:
Hilary King
Dimension Data
Tel: +27 11 575 6728
Cell: +27 82 414 9623
Scott Gibson, CEO
Britehouse
Tel: +27 11 575 1016
Cell: +27 83 326 1016
Sponsor in South Africa
Merrill Lynch South Africa (Pty) Limited
About Dimension Data
Dimension Data plc (LSE:DDT), a specialist IT services and solution
provider, helps clients plan, build, support and manage their IT
infrastructures. Dimension Data applies its expertise in networking,
security, operating environments, storage and contact centre technologies
and its unique skills in consulting, integration and managed services to
create customised client solutions.
About Britehouse Group
Britehouse is a Dimension Data company providing business software
application solutions. Pebbletree Consulting, a SAP Africa Service Partner
and SAP Africa SME Business Partner, providing strategic business consulting
services in respect of SAP software; 3fifteen, a Microsoft Gold Partner
providing specialist Microsoft services including consulting, software
application development and deployment; and empowered JSE listed ICT
Resourcing and Solutions company Paracon Holdings Limited, are Britehouse
Holdings (Pty) Ltd companies.
About Convergence Partners Investments (Pty) Ltd
Convergence Partners Investments (Pty) Ltd, previously known as Ngcaba
Holdings, is an empowerment company led by Andile Ngcaba. Ngcaba has been
active in the ICT industry for a number of years, and was Director General
of the SA Department of Communications for eight years.
About Safika Holdings (Pty) Ltd
Safika is a black-owned investment holding company which focuses on making
strategic investments and assisting in the management of such investments.
The executive chairman is Moss Ngoasheng who also sits on the board of
Dimension Data Holdings plc.
Safika facilitates greater black shareholder participation in South Africa`s
economic evolution, ensuring black economic prosperity by forming strategic
alliances and acquiring significant interests in viable business ventures.
Safika has investments in various sectors of the economy including,
information and communications technology, human capital, natural resources
and financial services.
Date: 12/07/2007 11:30:02 Produced by the JSE SENS Department.
